(a) A cooperative may be dissolved by the act of the cooperative, when authorized in the manner set out in this section.
(b) The board shall adopt a resolution directing the question of dissolution to be submitted to a vote at an annual or special meeting of members.
(c) Written notice shall be given to each member in the manner provided in this chapter for the giving of notice of meetings of members, and must state that the purpose, or one of the purposes, of the meeting is to consider the advisability of dissolving the cooperative.
(d) At the meeting a vote of members shall be taken on a resolution to dissolve the cooperative. The resolution is adopted if it receives the affirmative vote of two-thirds of the member votes cast. The articles may permit shareholders to vote on a resolution for dissolution, and may fix the proportion of authorized shareholder votes required for adoption.
Structure Alaska Statutes
Title 10. Corporations and Associations
Chapter 15. Alaska Cooperative Corporation Act
Sec. 10.15.460. Voluntary dissolution by act of cooperative.
Sec. 10.15.465. Execution and content of statement of intent to dissolve.
Sec. 10.15.470. Filing statement of intent to dissolve.
Sec. 10.15.475. Procedure after filing of statement of intent to dissolve.
Sec. 10.15.480. Revocation of voluntary dissolution proceedings by act of cooperative.
Sec. 10.15.490. Filing statement of revocation of voluntary dissolution proceedings.
Sec. 10.15.495. Articles of dissolution.
Sec. 10.15.500. Filing articles of dissolution and issuance of certificate of dissolution.
Sec. 10.15.505. Involuntary dissolution and cancellation of corporate filings.
Sec. 10.15.510. Jurisdiction of court to liquidate assets and business of cooperative.
Sec. 10.15.515. Joinder of members or shareholders unnecessary.